NEW RECORD PRICE FOR N.Z. WOOL PAID FOR MERINO AT DUNEDIN

Wanganui Chronicle, 21 December 1948, Page 6

NEW RECORD PRICE FOR N.Z. WOOL PAID FOR MERINO AT DUNEDIN

DUNEDIN, Last Night (PA).— A new record price for New Zealand greasy wool was established at the first main fleece sa e of the season in Dunedin today when a local milt paid 813 d per :b for three hales of super comb Mem*) warp sold by Malvern Downs, Central Otago. This eclipse;! the previous record of 81 d paid for .Marlborough Merino cip at Christchurch last Wednesday.

The selection in Dunedin today was mostly of good styk?, with large entries of hogget wools and ewe clips, mostly shorn before lambing. Generally, the wool opened up particularly well, there being almost an entire absence of dust. Only very few bales from Central and North Otago showed signs. Most of the better class of fine clips came from Central Otago, with some exceptionally good lines of crossbred from th e south. Local mills were always in the market for the better lines of fine wools and obtained most of these, although they had strong competition from other sources, mostly Continental, while Bradford was fairly quiet. The maximum total of 30,000 bales, all new season’s wool, was offered. There were no passings and the Joint Organisation did not come any part of tne sale. In spite of the recently altered exenange rate, values were better than any of the peak prices secured last year. There was a keen demand for all classes of wool and values appreciated from 3d to 6d per lb on those of last season. There was a full bench of buyers, but buying appeared to be restricted to a few.